June 13, Chicago - National Futures Association (NFA) has permanently barred from membership FX Trading, LLC, a futures commission merchant located in Iselin, New Jersey, and Shaheryar Khan, the firm's principal and an Associate Member of NFA. The firm's principal business was the handling of customer accounts trading in off-exchange foreign currency futures transactions (forex). The Decision, issued by NFA's Business Conduct Committee, is based on the charges contained in an NFA Complaint filed in February 2006.

The NFA Complaint charged that FX Trading failed, among other things, to comply with its minimum net capital requirements; maintain adequate books and records; list several individuals as principals; and maintain an adequate anti-money laundering compliance program. In addition, the Complaint alleged FX Trading and Khan willfully submitted materially false or misleading information to NFA and failed to maintain and follow adequate supervisory procedures.

Because FX Trading and Khan failed to file an Answer, the Committee found that FX Trading and Khan have admitted the facts and legal conclusions alleged in the Complaint, waived their right to a hearing, and committed each and every violation alleged against them in the Complaint. The complete text of the Complaint and Decision can be found on NFA's Web site (www.nfa.futures.org).

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.